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Revisions

SingPost sinks into the red in 4Q after booking TradeGlobal impairment

Results

SingPost sinks into the red in 4Q after booking TradeGlobal impairment

PC Lee Published on Fri, May 12, 2017 / 9:25 PM GMT+8

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SINGAPORE (May 12): Singapore Post sunk into 4Q losses of $65.2 million after booking $208.6 million in impairment charges.

Of these, $185 million were for its US e-commerce unit TradeGlobal, $20.5 million for Postea Inc., and $9.3 million for an industrial property at 3B Toh Guan Road East.

Quarterly revenue came in 2% higher at $324 million.

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